OPEC said the global oil market will switch from being under- to over-supplied as early as next month as the economic rebound from the coronavirus pandemic falters. The group’s Secretary-General Continue Reading
Global energy demand will increase by 28 percent from now until 2045 due to rising economies and population, according to OPEC’s World Oil Outlook discussed at the ADIPEC energy forum Continue Reading
The OPEC Monthly Oil Market Report for November 2021 was published this past week. The last month reported in each of the charts that follow is October 2021 and output Continue Reading
Russia says there is no shortage of oil in the global market and there may even be a surplus from early next year, adding to the chorus of other OPEC+ Continue Reading
OPEC Secretary General Mohammad Barkindo said on Monday that oil and gas were “targeted” for the first time at COP26 as having no place in the energy transition. As an Continue Reading
Saudi Arabia and the United Arab Emirates signaled OPEC+ will continue raising oil output cautiously and won’t bow to U.S. pressure to pump faster. President Joe Biden, concerned that gasoline Continue Reading
Soaring energy prices are likely to crimp demand for oil in some of the world’s fastest-growing economies this year, the Organization of the Petroleum Exporting Countries said Thursday. In a Continue Reading
Cuts fourth-quarter 2021 demand forecast by 330,000 bpd Sees demand at 100 mbpd in Q3 2022, later than earlier thought OPEC Oct output rises 220,000 bpd, but four members pump Continue Reading
The OPEC+ group doesn’t plan to change the pace of easing the collective production cuts at its next meeting in early December and will review the output schedule in the Continue Reading
The OPEC+ group has the capability to increase its crude oil supply to the market if there is demand, according to one of the key members of the coalition, the Continue Reading
